Higher oil prices would support Nigeria’s economic recovery in 2018 - IMF

-
The International Monetary Fund (IMF) has said Nigeria’s economy might be on the path of recovery should there be a boom in oil prices.
The IMF in its annual Article IV review of Nigeria’s economy said a ‘muddle-through’ outlook is projected for the medium term under current policies, with fiscal dominance and structural constraints leading to continuing falls in real GDP per capita.
“Higher oil prices would support a recovery in 2018 but a ‘muddle-through’ outlook is projected for the medium term under current policies, with fiscal dominance and structural constraints leading to continuing falls in real GDP per capita,” the IMF said.

The role of 2019 general election

The IMF report also identified risks to growth including additional delays to implementing policies and reforms ahead of 2019 elections.
The report further said should the oil prices witness a price fall, the economy will witness capital flows reversed.
“Further delays in policy action -- including because of pre-election pressures -- can only make the inevitable adjustment more difficult and costlier,” the report said.

Comments

Post a Comment

Popular posts from this blog

John Oliver has been sued by the coal baron he tried to take down, which he predicted would happen

-
Image
    ("Last Week Tonight with John Oliver."HBO) The coal magnate Robert Murray has filed a lawsuit against John Oliver, HBO, Time Warner, and the writers of Oliver's show over the most recent episode of "Last Week Tonight," The Daily Beast reports. In a segment on the show, Oliver took on Murray's business practices and the safety hazards of the coal industry at large. Murray — who runs Murray Energy Corporation, the largest private coal company in the country — filed the suit Wednesday. It says Oliver's program "executed a meticulously planned attempt to assassinate the character of and reputation of Mr. Robert E. Murray and his companies." In the segment, Oliver called Murray a "geriatric Dr. Evil" because of Murray Energy's weakened safety practices, which Oliver contended led to a collapse in one of Murray's Utah mines that killed nine workers in 2007. Oliver predicted during the segment on Sunday that th...
Read more

NEWS

-
Scotland remains at a snowbound standstill as Beast from the East takes fresh bite THE Beast from the East is set to take a fresh bite out of Scotland today, the end of a week of weather chaos, “unprecedented” in modern times. Although the highest level “Code Red” warning has now been lifted, an “Amber” warning remains in place, with the public being warned not to travel unless absolutely necessary.
Read more

APC Chieftain cautions Kalu over comments on Buhari’s HealthABUJA – A founding chieftain of the All Progressives Congress APC in Abia state, Prince Paul Ikonne has cautioned a former governor of the state, Orji Uzor Kalu to avoid comments that could portray the party as incapable of keeping to its words. Ikonne was speaking against the backdrop of the former governor’s declaration that ailing President Muhammadu Buhari would return before June 12, urging him to refrain from acting as the president’s unofficial spokesman. “Last time, Dr Orji Uzor Kalu told Nigerians that President Buhari would return soon and he is not the spokesman of the President. Till now, the President is yet to return. He should keep quiet and learn to live like an elder statesman, not trying to take the job of the president’s spokesmen”, he said. Speaking with journalists Thursday in Abuja, Ikonne who was a governorship candidate of the defunct Action Congress of Nigeria ACN, said 95 percent of the people of Abia are not happy with the way Kalu governed Abia for eight years.

-
ABUJA – A founding chieftain of the All Progressives Congress APC in Abia state, Prince Paul Ikonne has cautioned a former governor of the state, Orji Uzor Kalu to avoid comments that could portray the party as incapable of keeping to its words. Ikonne was speaking against the backdrop of the former governor’s declaration that ailing President Muhammadu Buhari would return before June 12, urging him to refrain from acting as the president’s unofficial spokesman. “Last time, Dr Orji Uzor Kalu told Nigerians that President Buhari would return soon and he is not the spokesman of the President. Till now, the President is yet to return. He should keep quiet and learn to live like an elder statesman, not trying to take the job of the president’s spokesmen”, he said. Speaking with journalists Thursday in Abuja, Ikonne who was a governorship candidate of the defunct Action Congress of Nigeria ACN, said 95 percent of the people of Abia are not happy with the way Kalu gover...
Read more